Quite often a business offers significant discounts if the stock counts are up and sales are low. New car dealerships are an example of this as manufacturers release the next year’s models before the current vehicles on the lot have been sold. Similarly, furniture companies might offer ‘stock reduction sales’ to reduce stock on-hand to make room for newer goods.
However, a large number of companies settle for carrying a bare minimum of inventory on-hand to meet their current orders. With a large number of items occupying the warehouse, the bottom line of the company can be detrimentally affected by making the company look less appealing to possible investors and potential customers. The revenue at month’s end will also be cramped by the lack of conversion of stock-into-capital, the very purpose for being in business.
Ultimately, when it comes to their assets, companies need complete data for the full life cycle of their business, from their acquisition through their issue. There are many standard depreciation methods, and reports are needed for each type you may want to use. All decision-making tools must be integrated into your accounting model so that when you generate your monthly or quarterly inventory the information is both precise and up-to-date. Modern, sophisticated companies require the most up-to-date, robust and versatile software packages to keep them competing at the highest level.
FreshVu2Go is a feature-rich inventory and accounting package, as current as The Cloud, as complete as you will ever see. It’s affordable, easy-to-use and comprehensive. It is the very model of its kind available in the world today.
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